Blog: Dean BestRose faces thorny issue

Dean Best | 8 July 2009

just-food is currently in attendance at Marks and Spencer’s highly anticipated AGM, where chairman and CEO Sir Stuart Rose is expected to face his shareholder critics.

Rose has attracted disapproval from shareholders over his dual role as chairman and chief executive, a breach of UK corporate governance best practice.

M&S has argued that the company requires stability as it looks to appoint a successor to Rose.

However, many shareholders remain unconvinced and a motion, proposed by the vocal Local Authority Pension Fund, will today (8 July) seek to set a deadline of July 2010 for the appointment of a new independent chairman.

How will Sir Stuart respond to such censure?

For live notes from the AGM, check out just-food’s observations on Twitter.


BLOG

Asda and Sainsbury's - deal or no deal?

The proposed merger between Asda and Sainsbury's - two of the UK's 'big four' supermarkets - is, as expected, getting people hot under the collar....

BLOG

Carrefour, Google team up as France's online grocery shake-up continues

France's largest food retailers have made a number of moves in recent quarters to try to tap into the growth of the country's online grocery market - and this week another notable venture has been ann...



Forgot your password?